CHICAGO – June 4, 2007 -- Invenergy announced that the 300 MW Spindle Hill Energy Centerhas commenced commercial operation. The Spindle Hill Energy Center is located on the eastern edge of the Town of Frederick in Colorado. The facility is owned and operated by Invenergy with all power sold to Public Service Company of Colorado, an Xcel Energy company, under a long-term power purchase agreement.
Michael Polsky, CEO of Invenergy, commented “Through a competive bid process Invenergy isdelivering reliable and clean natural gas-based power to the citizens of Colorado. We are pleasedto be working with Xcel Energy to help them meet the growing electricity demand in Colorado.”
According to Karen Hyde, Xcel Energy Managing Director for Resource Planning and Acquisition,“The Spindle Hill Energy Center will play an important role this summer and into the future in helping Xcel Energy meet the growing demand for electricity from our Colorado customers,particularly during our high-demand periods of the year.”
The Spindle Hill project is built on 36 acres with Invenergy dedicating an additional 53 acres around the facility as a conservation easement. This conservation easement is provided as openspace and is available for the Town of Frederick’s recreational use.
"The Spindle Hill Energy Center is an important facility that will provide a reliable energy sourcefor the region,” said Eric Doering, Mayor of Frederick. “I am excited that Frederick is a player inproviding the opportunity to citizens of the region to receive dependable and cost effective energy.Through a diligent and cooperative effort with the Johnson family and Invenergy, the Townannexed this property into our tax base. In the process we created a conservation easement andimportant infrastructure that will help provide for our economic future."
The Spindle Hill Energy Center is comprised of two General Electric Model 7FA simple cyclecombustion turbines and associated equipment. Each combustion turbine is capable of producingapproximately 150 MW of electricity. The facility will be utilized in a peaking capacity to assist inmeeting peak power demands in the region. Site construction commenced in May 2006 withGeneral Electric Company serving as the engineering, procurement, and construction contractor.The Royal Bank of Scotland served as lead arranger and underwriter on the financing for theproject.
Colorado Representative Wes McKinley remarked "Anytime that we can provide home grownproducts like electricity it helps Colorado's burgeoning economy. The ability of a power plant likeSpindle Hill Energy to turn on and off as wind generates electricity allows our renewable economyto grow. I am especially grateful to Colorado’s public servants, Governor Ritter and SenatorRomer whose support of HB 1279 continues to keep Colorado competitive with our neighboringstates through even handed tax policy.”
About Invenergy
Invenergy is a developer, owner and operator of utility-scale electricity generating facilitiesincluding natural gas-fired and wind energy projects. The company has comprehensive expertise inthe development, financing, construction, operation and management of power generation projects.The members of Invenergy’s senior management team have extensive experience in diverse areasof the energy market and a track record of resounding success at Invenergy and in their priorbusiness entities.
Invenergy has a portfolio of natural gas-fired and wind energy electricity generation projects invarious stages of operation, construction and development in the US, Canada and Europe.Invenergy currently has 670 MW of natural gas projects in operation with a further 1,540 MWcurrently in construction. On the wind energy side, Invenergy has 686 MW in operation and afurther 320 MW currently in construction.
Invenergy is headquartered in Chicago and has professional staff located in its North Americanoffices in Denver, Washington D.C, Toronto, Milwaukee, Tampa, San Francisco and Austin,Texas. Overseas offices are located in London (UK), Warsaw (Poland) and Athens (Greece).
Contact: Lesa Kelley - 312.224.1423